Property taxes have been used for years to fund public resources and institutions such as schools, parks, fire and police departments and more to improve the community.
If you own a home, land, or business, you may be familiar with the forms needed to document your property tax information. However, knowing about exemptions and what exactly is being calculated can give you a better understanding of this tax information.
Local governments request tax forms containing information on the property you own, the land the property is on, equipments and information about any income being generated by the property if applicable and other movable structures under your name.
Depending on your state, individuals meeting certain requirements may receive a partial tax exemption.
This includes but isn’t limited to individuals with physical and mental disabilities. Individuals making under a certain amount of income yearly can also receive partial tax exemption from the state. The income amount is based off the previous year's tax information prior to turning in an application for exemption.
In addition to your home, the state also includes other items belonging to you under personal property. These items include:
Property taxes can be confusing and difficult, so if you need assistance filling out your property tax form, consider speaking with your local property tax office.
Maria Mercedes Gomez & Larissa Porta we were born in Nicaragua, but had the opportunity to come to the U.S. over 30 years ago. As immigrants in this country, we knew that we had to work very hard to receive and accomplish our goals in life. For everything, we are very thankful every day! Our experience does teach us and remind us that we have a responsibility to pay forward to our customer.
We believe that today's real estate market demands a team approach where our individual skills come together to offer our customers the benefit of twice the knowledge and experience, not to mention commitment to work diligently to assist you in meeting your real estate goals.
